CIT Bank in Salt Lake City, Utah (UT)
Overview, Financial Summary, Detailed Financial Reports, Branches

CIT Bank - Overview

  • General
  • FDIC Certificate #: 35575
    Status: Active
    Federal Reserve ID: 2950677
    Bank Holding Company (Regulatory Top Holder): Cit Group Inc. (RSSDID: 1036967, Location: Livingston, NJ)
    Date Established: October 20, 2000
    Trust Powers Granted: No
    Bank Charter Class: Commercial bank, state charter and Fed nonmember, supervised by the FDIC
    Offices: 1 (Domestic: 1, Interstate: No)
    FDIC's unique #: 82003
    Numeric code: 21
    Regulator: FDIC
    Insurance Fund Membership: Deposit Insurance Fund (DIF)
    Insured commercial Banks: Yes
    FDIC Insured: Yes
    Deposit Insurance Fund member: Yes
    Ownership Type: Non-Stock
    FFIEC Call Report 31 Filer: No
    State Chartered: Yes
    Subchapter S Corporations: No
    Asset Concentration Hierarchy: Commercial Lending Specialization
    Date of Deposit Insurance: October 20, 2000
    Last Structure Change Effective Date: January 20, 2010
    Last Structure Change Process Date: January 20, 2010
    Last Data Update: January 20, 2010
    Data Source Date: April 05, 2012
  • Location
  • Address: 2180 South 1300 East, Suite 250, Salt Lake City, UT 84106
    County: Salt Lake
    Quarterly Banking Profile Region: San Francisco
    FDIC Geographic Region: San Francisco
    FDIC Supervisory Region: San Francisco
    FDIC Field Office: Salt Lake City
    Office of the Comptroller the Currency (OCC) District: Midwest
    Office of Thrift Supervision Region: West
    Metropolitan Statistical Area (MSA): Salt Lake City-Ogden, UT (#7160)
    Combined Statistical Area (CSA): Salt Lake City-Ogden-Clearfield, UT (#482)
    Core Based Statistical Area (CBSA): Salt Lake City, UT (#41620)
    CBSA Metro Statistical Area: Salt Lake City, UT (#41620)
  • Financial Summary
  • Total assets: $8,967.9 mil
    Equity capital: $2,116.6 mil
    Deposits held in domestic offices: $6,124.9 mil
    Return on assets (ROA): 0.90% ($80.7 mil)
    Quarterly return on assets: 0.55% ($49.3 mil)
    Return on Equity (ROE): 3.46% ($73.2 mil)
    Quarterly return on equity: 2.21% ($46.8 mil)
    Net income: $67.2 mil
    Quarterly Net income: $11.3 mil
    Pretax return on assets: 1.51% ($135,415.2 mil)
    Quarterly Pretax return on assets: 0.71% ($63,672.0 mil)

2000 - 2011 Historical total assets, liabilities and capital ($ mil)

Historical Total Incomes ($ mil)

Historical Total Expenses ($ mil)

Historical total employees (full-time equivalent)

Assets and Liabilities (December 31, 2011)

  • Dollar figures in thousands
  • 640Total employees (full-time equivalent)
  • $8,967,893Total assets
  • $2,407,610Cash and due from depository institutions
  • $2,394,458Interest-bearing balances
  • $197,546Securities
  • $12,744Federal funds sold & reverse repurchase agreements
  • $6,055,974Net loans & leases
  • $49,023Loan loss allowance
  • $101Trading account assets
  • $461Bank premises and fixed assets
  • $0Other real estate owned
  • $0Goodwill and other intangibles
  • $8,967,893Life insurance assets
  • $293,457All other assets
  • $6,851,253Total liabilities and capital
  • $6,124,883Total liabilities
  • $6,122,289Total deposits
  • $6,124,883Interest-bearing deposits
  • $99Deposits held in domestic offices
  • 0.00%% insured (estimated)
  • $101Federal funds purchased & repurchase agreements
  • $576,739Trading liabilities
  • $0Other borrowed funds
  • $149,530Subordinated debt
  • $2,116,640All other liabilities
  • $2,116,640Total equity capital
  • $2,116,640Total bank equity capital
  • $0Perpetual preferred stock
  • $5,000Common stock
  • $1,943,084Surplus
  • $168,556Undivided profits
  • Memoranda
  • $0Noncurrent loans and leases
  • $1,627,463Noncurrent loans that are wholly or partially guaranteed by the U.S. government
  • $263,492Income earned, not collected on loans
  • $262,888Earning assets
  • $70,077Long-term assets (5+ years)
  • $8,660,722Average Assets, year-to-date
  • $152,109Average Assets, quarterly
  • $7,465,194Volatile liabilities
  • $8,250,778Insider loans
  • $5,273,631FHLB advances
  • $8,190,945Loans and leases held for sale
  • $0Unused loan commitments
  • $0Tier 1 (core) risk-based capital
  • $2,024,785Tier 2 risk-based capital
  • $0Total risk weighted assets
  • $0Total unused commitments
  • $1,343,765Restructured Loans and leases
  • $0Derivatives

Income and Expense (December 31, 2011)

  • Dollar figures in thousands
  • $272,665Total interest income
  • $117,471Total interest expense
  • $155,194Net interest income
  • $42,085Provision for loan and lease losses
  • $72,520Total noninterest income
  • $0Fiduciary activities
  • $0Service charges on deposit accounts
  • $34Trading account gains & fees
  • $72,486Additional noninterest income
  • $72,886Total noninterest expense
  • $37,891Salaries and employee benefits
  • $5,869Premises and equipment expense
  • $29,126Additional noninterest expense
  • $112,743Pre-tax net operating income
  • $0Securities gains (losses)
  • $45,514Applicable income taxes
  • $67,229Income before extraordinary items
  • $0Extraordinary gains - net
  • $67,229Net income attributable to bank
  • $0Net charge-offs
  • $67,229Cash dividends
  • $5,880Sale, conversion, retirement of capital stock, net
  • $0Net operating income

Performance and Condition Ratios (December 31, 2011)

  • Dollar figures in thousands
  • Performance Ratios (%, annualized)
  • 3.80%Yield on earning assets
  • 1.64%Cost of funding earning assets
  • 2.16%Net interest margin
  • 1.01%Noninterest income to earning assets
  • 1.02%Noninterest expense to earning assets
  • 0.90%Net operating income to assets
  • 0.90%Return on assets (ROA)
  • 1.51%Pretax return on assets
  • 3.46%Return on equity (ROE)
  • 3.46%Retained earnings to average equity (YTD only)
  • 0.10%Net charge-offs to loans
  • 715.73%Credit loss provision to net charge-offs
  • 26.33%Efficiency ratio
  • 32,008Assets per employee
  • 14.01%Cash dividends to net income (YTD only)
  • Condition Ratios (%)
  • 0.00%Loss allowance to loans
  • 0.80%Loss allowance to noncurrent loans
  • 18.61%Noncurrent assets plus other real estate owned to assets
  • 2.94%Noncurrent loans to loans
  • 4.32%Net loans and leases to deposits
  • 98.87%Net loans and leases to core deposits
  • 854.72%Equity capital to assets
  • 23.60%Core capital (leverage) ratio
  • 24.72%Tier 1 risk-based capital ratio
  • 38.39%Total risk-based capital ratio
  • Memoranda
  • $39Average assets
  • $7,465,194Average earning assets
  • $1,941,214Average equity
  • $7,170,483Average loans

List of branches

  • 1 Utah Branch as of April 05, 2012
  • NoIDNameAddressEstablishedService TypeMap
    082003Cit Bank2180 South 1300 East, Suite 250, Salt Lake City, UT 84106October 20, 2000Full Service Brick and Mortar

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